New Mexico Gov. Bill Richardson, tapped in December by President-elect Barack Obama to serve as secretary of Commerce, has withdrawn his name for the position, citing a pending investigation into a company that has done business with his state.

"Let me say unequivocally that I and my Administration have acted properly in all matters and that this investigation will bear out that fact," he said Sunday in a report by NBC News' Andrea Mitchell. "But I have concluded that the ongoing investigation also would have forced an untenable delay in the confirmation process."

No clue if there's any substance to the charges, and can't even say if I really care at this point. Our campaign finance system is so messed up that the most important person on any politician's staff isn't the campaign manager--it's the lawyer who vets the fundraising program. I hope Richardson is innocent, of course, and that he eventually winds up serving in the Obama administration--he's a smart guy and a good diplomat, and we certainly haven't had enough of those in government service for the last eight years.